Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

February 16, 2010 08:30 ET

Sustainable Energy's PARALEX™ Solution To Power 2.5 Megawatt Massively Parallel Ground-Based Solar Plant in Alicante Spain

First delivery of SUNERGY inverters on 10 Megawatt supply agreement with Tejados Industriales de Fotovoltaica for Signet Solar thin film power plant

BARCELONA, SPAIN--(Marketwire - Feb. 16, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") announced today that it will deliver 500 SUNERGYTM solar power inverters to Tejados Industriales de Fotovoltaica, S.L. ("Tejados"), an engineering procurement and construction company affiliated with Signet Solar GmbH, for a 2.5 MW solar power plant in El Pinos, Alicante, Spain.

This project marks the first deliveries under Sustainable Energy's previously announced 10 MW Supply Contract with Tejados. The ground-based solar plant, which is being developed by Tejados using Signet Solar thin film PV modules, is scheduled for grid-connection in early May of this year.

Sustainable Energy's patented PARALEXTM system architecture was selected for the Alicante project because of its contribution to superior total system performance and easier installation and maintenance.

"Sustainable Energy's PARALEX massively parallel system architecture using SUNERGYTM inverters is the ideal solution for thin film solar power plants," said Klaus Muller, CEO of Tejados. "These systems trump all other solutions available, thanks to their simple design, superior performance advantages and ease of installation."

Enabled by the Company's patented SUNERGYTM inverter, the PARALEXTM system architecture allows most thin film solar PV modules to be wired in a "massively" parallel array, eliminating module mismatch losses, and mitigating the impact of dirt and debris on total system performance. In ground based systems, multiple SUNERGYTM inverters further enhance project economics by reducing installation costs, increasing system availability and lowering long-term maintenance costs.

"We are excited to continue our partnership with Tejados, and through Tejados, with the Signet Solar product line, which is one of only a few that have been accepted as "bankable" in European markets," said Robert Bucher President & CEO of Sustainable Energy. "We are looking forward to expanding our relationship in 2010; and to contributing to higher system IRR's and a well deserved reputation for reliability with our inherently reliable SUNERGYTM inverter product line.

About Tejados Industriales de Fotovoltaica Group

Based in Benissa, Spain, Tejados was formed in 2007 with the goal of being a leading engineering, procurement and construction firm for solar PV throughout Southern Europe. Tejados has a diversified staff of experienced engineers, project managers and financial experts; and the company has integrated operations with a network of other solar PV engineering procurement and construction firms across Europe to offer customers turnkey solar PV solutions.

About Sustainable Energy: Sustainable Energy (www.sustainableenergy.com) designs, manufactures and distributes power inverters for grid-connected solar PV systems. Advanced power inverters are a critical enabler of all modern solar PV power systems converting the direct current ("DC") power output of the solar PV modules into the high quality alternating current ("AC") power required by the power grid. Advanced power inverters also optimize the performance of the solar PV modules and maintain the integrity and safety of the interconnection with the power grid.

The extra low operating voltage of the SUNERGY platform enables a system architecture that is inherently safe and that can be installed and maintained by most building trades without the need for PV specialists, significantly reducing the installed system cost and increasing investor yields.

Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the US Patent and Canadian Patent Offices.

Forward Looking Information

The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements concerning the impact of our technology on solar PV system performance; and statements concerning the potential for sales in the markets we have entered. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward- looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sustainable Energy Technologies Ltd.
    Michael Carten
    Executive Chairman
    (403) 508-7177 #111
    or
    Sustainable Energy Technologies Ltd.
    Robert Bucher
    President & CEO
    (416) 642-5616
    www.sustainableenergy.com
    or
    Borders + Gratehouse
    Emily Borders
    (415) 963-4174 ext 1